209 S Indiana St · Hazleton, IN 47640

$78,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 1 Days on market

Built 2019 0.25 ac lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Tucked away among mature trees, this 2019 single-wide manufactured home offers the perfect blend of privacy and affordability on approximately 0.25 acres. Featuring 3 bedrooms and 2 full bathrooms, this home provides a functional layout with comfortable living spaces throughout. Enjoy your morning coffee or unwind in the evening on the front deck while taking in the peaceful natural surroundings. The kitchen comes equipped with included appliances, making this home move-in ready. Whether you’re looking for an affordable primary residence, an investment opportunity, or a quiet retreat, this property offers privacy and convenience.

Key facts

• Move-in ready
• Privacy
• Front deck

Tags

• FRONT DECK
• INCLUDED APPLIANCES
• MOVE-IN READY
• PRIVACY

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Septic sewer
• Home design: Manufactured home; Residential property
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Porch; Partial fencing; Sloped, wooded lot

Interior

• Kitchen: Dishwasher; Refrigerator; Electric range; Exhaust fan
• Bedrooms: Master on main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric heating; Central air; Ceiling fan(s); Window air unit(s)
• Interior features: Ceiling fans; Eat-in kitchen; Kitchen island; Laminate countertops; Master bedroom on main level; One fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level; Crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).

Location & tenants

• Location reads 61/100 on livability (#493 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities F.
• North Gibson School Corporation (rural): math 28% / reading 36% proficiency, ranked #223 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Princeton Comm Primary School (414 students, 53% FRL); Princeton Community Middle (math 23% / reading 37%, grade F, #208 of 330 statewide, top 64%, 431 students, 53% FRL); Princeton Community High School (math 22% / reading 57%, grade F, #221 of 369 statewide, top 63%, 618 students, 41% FRL).
• Market conditions: 7 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($539 loan paydown + $8k appreciation (10.0% local appreciation)).
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $15k; list at $78k implies a 420% gain — meaningful room to come down on a strong offer.

Recommended offer $78,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.36%
• DSCR: 1.73
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $158,976
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 S Ohio St	0.15mi	2/1.0 (-1)	1,104 (-4%)	19mo	$152,000	$138	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.4%
• Equity multiple: 3.81×
• Total profit: $61,456
• Equity at exit: $70,269

10-year hold

• IRR: 31.3%
• Equity multiple: 8.61×
• Total profit: $166,094
• Equity at exit: $151,537

Cash invested: $21,840 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47640

• Home prices YoY: 4.9%
• Active inventory: 7
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$94 /mo · $1,122/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $298

Break-even live

Break-even rent $677

Max offer price $78,000

Occupancy floor 67%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 637-char remark
2. 2026-06-18
   listed $78,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,122 · $94/mo
• Projected year-2 tax: $1,122 · $94/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,650
• − Mortgage interest: −$4,369
• − Property taxes: −$1,122
• − Insurance: −$390
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$2,269
• Taxable income: $2,475
• Est. tax owed @ 24.0%: −$594
• After-tax cash flow: $2,979/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: North Gibson School Corporation
• NCES district ID: 1807770
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $44,595
• Composite: 27.32/100
• National rank: #6992
• State rank: #223 of 301 in IN

Livability — Hazleton

• Score: 61/100
• State rank: #493
• US rank: #17550

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazleton, IN
• Population (ZIP): 882

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 7% Romanian 6% Lithuanian 4%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.50%
• Current HPI: 247.5918
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+420.0% since first listed

4 events — show timeline

• 2026-06-18 Listed $78,000 IRMLS
• 2022-10-04 Delisted — IRMLS
• 2022-07-26 Listed $89,900 IRMLS
• 2011-07-21 Sold (Public Records) $15,000 Public Records

Property tax history

+35.4%/yr

Latest (2024): $1,122 · +4.9% YoY. Source: county tax records.